Silver - March 2, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International silver prices continued to trade lower this Tuesday morning an early afternoon trade in Asia, tracking the strength of the U.S. Dollar.

Technically, LBMA spot silver has pivotal support at $25.93 and a close below could witness a correction towards $25.50. Important resistance is at $26.50.

Domestic silver prices are trading weaker this Tuesday morning an early afternoon trade, tracking overseas markets.

Technically, MCX May silver futures has a pivotal support at Rs.66400 and a close below could witness a correction towards Rs.63650. Important resistances are at Rs.68950-70150.

Disclaimer: The recommendations, if any, made herein are expression of views and/or opinions and should not be deemed or construed to be neither advice for the purpose of purchase or sale of any security, derivatives or any other security through RSL nor any solicitation or offering of any investment /trading opportunity on behalf of the issuer(s) of the respective security(ies) referred to herein. These information / opinions / views are not meant to serve as a professional investment guide for the readers. No action is solicited based upon the information provided herein. Recipients should rely on information/data arising out of their own investigations. Readers are advised to seek independent professional advice and arrive at an informed trading/investment decision before executing any trades or making any investments. While due care has been taken to ensure that the disclosures and opinions given are fair and reasonable, none of the directors, employees, affiliates or representatives of RSL shall be liable for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including lost profits arising in any way whatsoever from the information / opinions / views contained herein.

Source : Equity Bulls

Keywords